31-1-704. Scope. (1) This part applies to deferred deposit lenders and to persons who facilitate, enable, or act as a conduit for persons making deferred deposit loans.
     (2) This part does not apply to:
     (a) banks, savings and loan associations, credit unions, or other state or federally regulated financial institutions;
     (b) retail sellers who cash checks incidental to or independent of a sale and who do not charge more than $2 per check for the service; or
     (c) a collection agency licensed to do business in this state that has entered into an agreement with a deferred deposit lender for the collection of claims owed or due or asserted to be owed or due the deferred deposit lender.

     History: En. Sec. 4, Ch. 404, L. 1999; amd. Sec. 2, Ch. 81, L. 2001.